Messina Limited - Announcement regarding restructuring of balance sheet
Messina Limited
Registration number 1950/035912/06
Share code: MES ISIN: ZAE 000004438
("Messina" or "the company")
Announcement regarding restructuring of balance sheet
Further to the cautionary announcements dated 6 December 2002, 21 January 2003
and 6 March 2003, shareholders are advised that the Board of Directors of the
company has resolved to restructure the balance sheet of the company through a
rights offer to its shareholders ("rights offer").
SouthernEra, the controlling shareholder of the company, has resolved to
underwrite the rights offer. This support is subject to agreement with Messina
on the terms of the rights offer as well as the associated regulatory process.
Details of the rights offer will be published in the near future.
Shareholders are therefore advised to continue exercising caution when dealing
in their shares until further details relating to the rights offer are
announced.
Rosebank
13 March 2003
Sponsor: RMB Corporate Finance
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